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A mobile wallet from Apple could make all the difference in the world to the mobile payments market, says Rick Oglesby, a long-time mobile payments and mobile wallets industry observer and senior analyst at Double Diamond Group, a payments consulting firm.

“With every new iPhone, Apple sells millions of units within just days of launch, and those users want to test drive all of the new features pretty fast,” Oglesby says. “If Apple is truly making a big bet on payments and has the major card companies involved, there is no other provider that can make a bigger difference. And as for NFC, merchants may not need much in the way of new hardware if Apple does this right. Apple has a long history of reinventing things, and when you are talking about computer-to-computer communication, like an iPhone to a POS system, a terminal really shouldn’t be necessary. NFC is likely a part of Apple’s solution, but it could well be a solution that does not use an NFC terminal.”

Internet Retailer, September 3, 2014